On July 1,2017,Collins Jewelers Accepted a 3-Month,15% Note for $6,000

question 94

Essay

On July 1,2017,Collins Jewelers accepted a 3-month,15% note for $6,000 in settlement of an overdue account receivable.Prepare the journal entry to record the acceptance of the note.

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Definitions:

SmartScreen

A feature in Microsoft products that helps protect against phishing and malware by screening web content and files.

Unrecognized Apps

Applications that an operating system or security software does not identify as safe or known, often prompting a warning to the user.

Downloaded

The process of receiving data from a remote system, such as a server, through the internet or a local network, typically for local storage or use.

Picture Password

A security feature where users can unlock their device or software by performing specific gestures on a selected image, instead of typing a traditional password.